This photo is located in the Champaign County Historical Archives in the envelope marked "New Year." There was no information about the child or source of the photo, just some numbers written on the back. A dive into the microfilm answered my question "Who is this baby?"
The photo was published on the front page of the Sunday, December 31, 1950, News-Gazette, with the following caption:
"HAPPY NEW YEAR! That's the greeting of Timothy Gaile Mecum, Champaign infant, who is ready to observe his first birthday on Monday, New Year's day. Timothy, a handsome, robust babe holds the honor of being the first baby born in the local area last January 1. Son of Mr. and Mrs. Maurice G. Mecum of 1411 North McKinley avenue, Tim was born at 12:55 a.m. on January 1, 1950, at Burnham City hospital. He's had a good year and is looking forward to the best possible 1951, joining in the chorus of greetings: 'Same to you!'"
Happy New Year and Happy Birthday to Mr. Mecum!